Calculate the following
1 answer:
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Answer:
In 50 years the amount will be $ 2000.
Step-by-step explanation:
Tiana deposited $500 into a account at 6 % simple interest per Year .
Therefore, Principal (P) is $500
Amount (Principal + Interest) = $2000
Interest (I) = $2000 - $500 = $1500
Rate percentage (R) = 6% per Year
Let, The time be T years
Now, I =
Or, T =
Or, T = (100×1500 ) ÷ ( 500× 6 )
<em> </em><em>∴ T = 50 Years</em>